ZPG receives £2.2bn takeover bid

Shares in ZPG (ZPG), owner of Zoopla, uSwitch, PrimeLocation and other digital brands, rose by over 30 per cent after receiving a cash offer from US investment group Silver Lake Management. The bid values each share at 490p – a 31 per cent premium to the group's share price the day prior to the announcement – and gives ZPG a market capitalisation of £2.2bn. The offer has been unanimously approved by the board of ZPG and The Daily Mail & General Trust, ZPG’s largest shareholder, amounting to irrevocable undertakings of around 31 per cent of the share capital.